On July 11, 2018, Elkhorn Partners Limited Partnership announced that on July 10, 2018, Equitable Financial Corp. stated that it was voluntarily delisting its common stock from The Nasdaq Stock Market. Elkhorn Partners stated that it strongly disagrees with the action taken by the board of directors of the Company. Elkhorn Partners expressed its view that the action further entrenches the board to the detriment of other stockholders. Elkhorn Partners stated that it intends to nominate 2 or 3 individuals (including Wayne Cadwallader) for election to the board of directors of the Company at the next annual meeting of stockholders.